Web3 incubator and market maker iBLOXX completed $5 million financing
On February 23, the Web3 incubator and market maker iBLOXX announced the completion of a $5 million financing, and PrimeXM led the investment, which will be used to expand the company’s game development department iBLOXX Studios. This investment will make the post-investment valuation of its game department reach $30 million.
Interpretation of this information:
iBLOXX, a Web3 incubator and market maker, recently closed a $5 million financing round led by PrimeXM, a leading forex technology provider. The funds raised will be utilized to expand the company’s game development department, iBLOXX Studios. According to the announcement, this strategic investment will make the post-investment valuation of iBLOXX Studios, the game development arm of the company, reach $30 million.
This recent funding round highlights the shifting focus towards blockchain-based gaming. Blockchain technology offers a novel way of distributing ownership and control, creating new types of games, and producing novel gaming experiences. By leveraging the transparency and immutability of blockchain technology, iBLOXX is poised to transform the gaming industry by creating revolutionary games that will attract a new generation of gamers.
With the investment, iBLOXX Studios is expected to expand aggressively and increase its development efforts. The company’s game development department already boasts a wealth of blockchain experts who are working on innovative gaming solutions that leverage the advantages provided by blockchain technology. By combining blockchain technology with cutting-edge gaming design, iBLOXX Studios is in a prime position to revolutionize the gaming industry.
In conclusion, the recent investment by PrimeXM is a sign of confidence in the potential of iBLOXX Studios to become a major player in the gaming market. By leveraging blockchain technology and innovative game design, the company is well-positioned to create games that will appeal to an entirely new generation of gamers. This funding will assist the company as it accelerates its expansion plans and continues to create innovative and engaging gaming experiences for its users.
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